Pennsylvania State SCIQuest #OB-RFP006789

Actuarial consulting and pension valuation services for Pennsylvania municipal plans

Pennsylvania is seeking actuarial support for municipal pension plans participating in PMRS. - Government buyer: Commonwealth of Pennsylvania; sub-agency: Pennsylvania Municipal Retirement System (PMRS); issuing office: Bureau of Planning and Management. - Services requested: Actuarial consulting and advice for PMRS member municipal pension plans, including Act 205 services and minimum municipal obligation determinations; accounting valuation and reporting services, including composite reporting under GASB 67 and municipality-level reporting under GASB 68. - OEMs and vendors: No OEMs, vendors, or specific commercial products are named. - Contract term: Five years from the effective date, which follows execution and required Commonwealth approvals; the contract is fixed-fee, with no option years stated. - Notable requirements: Participation goals are 10% for Small Diverse Businesses and 3% for Veteran Business Enterprises.

Description

The Pennsylvania Municipal Retirement System (PMRS) is seeking professional actuarial consulting services and advice for its member municipal pension plans. Work includes determining minimum municipal obligations under Act 205, other actuarial services, and accounting valuation services, including composite reporting under GASB 67 and reporting for municipalities under GASB 68. The RFP states that any resulting contract will be fixed fee and have a five-year term. The solicitation also establishes participation goals of 10% for Small Diverse Businesses and 3% for Veteran Business Enterprises.

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